Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales, or Stamp Duty Land Tax (Stamp Duty) if the property is in England.
Disbursements are costs related to your matter that are payable to third parties, such as searches and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Land Tax or Stamp Duty may be payable. This depends on the purchase price of your property. You can calculate the amount you will need to pay by using the Welsh Revenue Authority's website https://lttcalculator.wra.gov.wales/ChargeableTransactionType if the Property is located in Wales or the HMRC's website https://beta.gov.wales/land-transaction-tax-calculator or if the property is located in England
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-8 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 8-10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply and these would be discussed with you.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages to the transaction:
- Take your instructions and give you initial advice
- Receive, review and advise on contract documents
- Raise enquiries on the contract documents with the seller’s solicitors
- Carry out searches
- Obtain further documentation as revealed on the searches and contract documentation if required
- Draft the Transfer deed
- Report to you and give advice on all documents and information received
- Receive your mortgage offer and discuss the conditions of the offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry